Portugal’s Golf Property Market Boom, Latest Stats

Tourists from around the world visit Portugal for its stunning beaches, fascinating culture, vibrant cities and, of course, its golf courses. The latest figures from Portugal’s National Statistics Institute (INE) show that the tourist accommodation sector welcomed 3.2 million guests in July 2024, including 6.3 million overnight stays by non-residents of Portugal, a 4.2% increase in the latter compared to July 2023.

Britons accounted for 18.3% of all foreign visitors to Portugal during July – more than any other nationality. With Portugal having been crowned the World’s Best Golf Destination at the 2023 World Golf Awards, many of this summer’s visitors were keen to spend time on its fairways.

The Algarve, Portugal’s southernmost and sunniest region, is a particular hit with golfers. Home to 39 courses, the Algarve saw golfers play 1.4 million rounds in 2023, accounting for two thirds of all golf rounds played in Portugal.

2024 has been another busy year according to Hernani Estevão, Director of Golf at Vale de Lobo, the prestigious central Algarve resort, owned and operated by Kronos Homes. Estevão has seen strong demand from golfers over the summer months. He comments:

“Golf plays an important part in the holiday experience of the clients visiting the region, and few destinations around the world provide courses as beautiful as those in the Algarve. The region is privileged to be able to offer access to challenging and exciting courses in such an incredible natural setting. Golfers from around the world have been flocking to the Algarve this summer – it’s been a very busy season.”

Portugal is winning big from a corporate golf perspective as well. The International Golf Travel Market – Europe’s leading golf travel industry event – will take place in Lisbon in October 2024, marking the first time in the event’s history that it has taken place in the same city for two consecutive years.

In the Algarve, two of Portugal’s most popular and photographed golf courses are located at the Vale do Lobo resort. The 18-hole, par 73 Ocean Course was designed by Sir Henry Cotton and opened in 1985. Its 6,122 metres are home to undulating fairways that run alongside the beautiful Ria Formosa Nature Reserve, before leading gently down to the shores of the Atlantic.

Vale do Lobo’s second course – the 18-hole, par 72 Royal Course – was opened in 1997. It was designed by leading American golf architect Rocky Roquemore, based on original drawings by Sir Henry Cotton. It’s almost-island green on the ninth hole and the famous clifftop carryover on the 16th have proven to be a hit with golfers from around the globe.

In the midst of a brand repositioning, Vale do Lobo has committed notable investment to its golf facilities over the past year, including a significant upgrade to the maintenance programme on both courses. Not only is this delivering a superior golfing experience, but the resort managed to save a significant quantity of water with significant investments in the irrigation system , reduction of the irrigated areas and implementation of new irrigation programs. Ancillary services have also been upgraded, including all golf furniture, fixtures and equipment. The management of the on-site Golf Shop has been taken in house, resulting in a new launch of the boutique, which sells a carefully curated selection of high-end golf-wear and accessories, earlier this year.

Vale do Lobo has also tastefully refurbished a select number of its Golf Residences, delivering a fresh, contemporary look and feel. A range of golf properties is available at the resort, from linked villas set alongside the 12th fairway of the Royal Course) to beautifully positioned plots of land ready for buyers to create their own unique home.

Many of Vale do Lobo’s Golf Residence have been snapped up during the first part of this year. Alda Filipe, Kronos Homes’ Real Estate Director, comments, “Golf properties deliver so many benefits and buyers are keen to take advantage of that. Between our refurbished golf homes and our course improvements, we’re delivering new investment for a new generation of golfers.”

Owning a golf home is about more than enjoying the physical and mental wellbeing benefits associated with the game itself. There’s also a strong community element. At Vale do Lobo in September alone, in addition to the daily members competitions, there are several Summer End Competition; the Captain’s and Lady Captain’s Cup, and Captains and Guest Day, when members get together and host guests in a festive atmosphere.

There are financial benefits to owning a golf property, too. Resort properties in Portugal increased in value by 9.8% in 2023, according to the Confidencial Imobiliário Portuguese Resorts Market Report. At Vale do Lobo, residents can also earn income – should they choose to do so – by renting out their property. It’s an easy process, with the resort providing maintenance, gardening, cleaning, security and other services (all available to owners, irrespective of whether they rent their properties out).

Buying at a golf resort on the scale of Vale do Lobo also means benefiting from having plenty of other amenities on-site. The resort is home to restaurants, pools, a gym, tennis and padel courts, a wide range of fitness and wellbeing classes, a 2km-long beach and various watersports, as well as luxury boutiques and professional instruction through its Golf and Tennis Academies. There are even facilities to inspire future golfers, from mini golf for the very youngest visitors to school holiday golf camps for those keen to grow their skills and try out the fairways for the first time.